both traditional monetary policy instruments, as well as innovative tools to provide liquidity. In this paper, the Fed … the primacy of liquidity constraints in the earlier stages of the crisis and the increased prominence of counterparty … credit risk as the crisis evolved in 2008. I conclude that an understanding of the prevailing risk environment is necessary …

We develop a model of bank lending that allows for credit rationing in equilibrium. Recognizing that small firms incur … a higher percentage cost of monitoring than large firms, the model shows that the incidence of bank credit rationing … consistent with a pattern of a differentially greater degree of rationing of credit to small borrowers during the Great Recession …

Medium Enterprise (JASME), we examine whether the JASME's lending from December 1997 thorough March 1999 mitigated the credit … crunch. We find that on average the JASME offset more than a quarter of reduction in lending by a firm's main bank due to …

This paper uses a natural experiment to study the impact of a loan supply shock on a Hungarian matched bank … affected via their external funding and positions on the swap market. The existence of firms with multiple bank links is …

We analyze small business lending at U.S. commercial banks, how it has changed over time and how it differs by bank … negative impact on lending to small businesses at community banks but not their large bank counterparts. This result suggests … important insights for policy makers as they continue to deal with the credit access issues of small firms. …

of the credit crunch mitigated a firm's loss of borrowing from its main bank. We further find that the state owned … institution's lending instrumented by the main bank's lending supply growth as explained by the bank's capital adequacy, which …

does not reflect financial innovations associated with more efficient risk bearing, liquidity provision, and credit … investment and credit to the non-financial sector in the United States. Building on Montecino, Epstein, and Levina (2014) we … through a credit channel. However, we also find evidence of a structural break around the year 2000. Rolling impulse response …

valuable option worldwide, but credit risk is high. To encourage investors, P2P platforms use blockchain and the option of …

We empirically investigate the role of credit supply in fertility decisions. Using the U.S. banking deregulation in the … 1980s and the 2007–2009 Great Recession as two independent laboratories for the study of credit supply shocks, we find that … an increase in credit supply consistently implies higher fertility rates, as well as a higher probability of giving birth …